Before we start reviewing the “Ten Most Demanding Small Business Challenges”, let’s review the top three National Reasons why Businesses fail!
- Poor Cash Flow – Too much going out and Not Enough coming in
- Ineffective Advertising & General Marketing Efforts – Unable to solve poor advertising efforts
- Denial – Not admitting there is something wrong with the business
Now, the “Ten Most Demanding Small Business Challenges”
No. 10 – How Much Money is Sufficient in Business?
Most start-up businesses do not have sufficient funds. It is recommended by business consultants to have twice as much of what is determined as start-up expenses. Always have some financial reserves to inject in the business . . . a business should not be in the red.
No. 9 – Is the Bottom Line Really that Important?